Bills Room Trading

Bills Room

Honesty

Quality

Cost

Support

Verified Trades

User Experience

1.2

Summary

Owner of company making highly dubious claims that his students, “Have gone years with a single losing day” and “My master trader students have NO draw downs and NO losers”. However, when pressed for verifiable proof of these amazing results, none can be found. Owner of company refuses to verify personal trading performance, will not produce account statements proving whether he can trade successfully. None of Bill’s students are willing or able to produce any proof of amazing results as described in the promotional webinars. In my opinion, and until proof can be provided by the vendor, then I would avoid this several thousand dollar trading product.

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Pros:Excellent marketing, salesmanship, and presentation. Bill promptly answers emails, until you ask for proof of his trading results or proof of his students trading results, then the conversation ends quickly.

Cons:Bill McDowell making wild, outrageous, and perhaps downright outlandish claims that his students have, "no losing days, and no draw downs". None of these amazing success stories were able to be verified. Owner of company not willing to provide even a morsel of evidence of his own personal trading successes or failures.

Thanks for reading today’s review of Bill’s Room Trading

What is Bill’s Room Trading? Bill’s Room Trading is a day trading educational company that operates from within the Online Trader Central family of live trading rooms. Online Trader Central owns and operates Hotcomm software, which is primarily a screen sharing software that allows a person to display their individual computer desktop with viewers over the internet. Online Trader Central is a marketing company. A person can purchase a promoted webinar for a price that ranges from $500 to $1000 to a list of potential traders. In speaking with Kevin Driscoll of Online Trader Central, he does not vet, nor does he perform any sort of background checks to authenticate whether a trading vendor is legitimate or operating a fraudulent trading scheme.

Over the years, we have witnessed just about every potential fraudulent trading scheme being promoted by Kevin Driscoll of Online Trader Central. It appears that the only hurdle to be promoted by Kevin is whether the vendor can come up with the marketing fee. Once a person has paid Kevin the marketing fee, then Kevin begins spamming hundreds of thousands of email addresses in hopes of enticing viewers to sign up for the vendor’s sales presentation.

In total, Mr Kevin Driscoll has now sold 76 of these promoted webinars to Dr. Bill McDowell. I would estimate that Bill McDowell has spent a minimum of $35,000 in marketing fee’s to Online Trader Central. Obviously, this is considerable amount to spend on marketing. On average, it appears that Bill McDowell conducts one of these trading promotions each month.

What is Bill McDowell selling?

Bill McDowell has various educational products that begin with an initial price tag of $3,000 for the Basic Course which includes 8 months of mentoring. Next there is the advance course which costs an additional $1,500 and extends the mentoring to one year. Finally, there is the post one year continuation mentoring that can be purchased for an additional $1,000. However, in watching the sales presentation, it appears that the main thrust is to sell a life time subscription at $5,000 per person.

There is no live trading room. At least in the sense that what most of us are accustomed too. There is only screen sharing post market hours with various assigned mentors that Bill assigns to each person, after the purchase has been made. Each of these assigned mentors are what Bill likes to term “Master Traders” that have all completed Bill’s courses and are now highly profitable traders.

The sales presentation

The Online Trader Central webinar that Bill conducts each month lasts approximately 70 to 90 minutes in length. In total, I have viewed four separate presentations and was amused at the congruity and sameness of each sales presentation. Bill has made this exact same sales pitch quite a lot, and it shows. So what exactly is contained within the sales pitch? For the vast majority of the time that Bill is making his presentation, it is remarkable how very little time is spent talking about actual trading. Instead, the pitch is primarily focused on how many “Master Traders” that Bill has supposedly produced over the past 10 years of training traders. In fact, in Bills marketing materials as well as his recorded webinars, he boldly proclaims:

If you are having more than one losing day a month, then you should not be trading, you should be learning my methods. In fact, my master trader students are currently experiencing no draw downs, and no losing days. With my methods, you can trade any market without draw downs and no losing days.

Obviously this is a bold proclamation. To offer a trading product that essentially guarantee’s these types of amazing results needed to verified.

Speaking directly with Bill McDowell

Over the last two months, I have made several attempts to verify the veracity of Mr. McDowell’s claims. Using several different alias’s and using different email address’s, I contacted Bill and simply asked if he could provide me with some sort of documentation regarding his own personal trading. Bill responded by emailing me the following document:

If take a look at this document, please notice that this trading log is for only a single day of trading. There appears to be a grand total of about 142 trades that were executed for the day. This log describes the trades covering the TF (Russell 2000), and the 6E (Euro). Please notice that at the top of this spreadsheet, Bill proclaims “Every valid trade is listed that could (not should) have been taken”. What exactly is Bill saying here? Did he take these trades? Did he take some of these trades and not others? Does he have any sort of proof in the form of account statements that verifies this impressive list of winning trades? And so, I began a campaign of emailing to Bill in hopes that he would divulge account statements or provide more transparency on his actual performance.

After a day or two of emailing Bill, using different alias’s, he would give the same response, “I will not verify my own trading results, nor will I share any account statements”. I asked him plainly, then how can a person verify the legitimacy of these results? At that point, he simply ignored me. It appears that once you cross the threshold into the realm of verification and provability, he quickly removes himself.

Also, I think that it is important to note that he is only sharing one day’s worth of trading results. To summarize, he wants prospective students to purchase his several thousand dollar, day trading educational course on this flimsy little spreadsheet? And he refuses to show even a redacted account statement? Amazing stuff folks. And 142 trades in a single day? This is nearly $600 in commissions paid. And a new trade executed every 2.96 minutes of the trading day. Seriously?!

Speak with the students

The more I attempted to press Bill into publishing verifiable accounts statements, the more he attempted to push the conversation of verification onto the court of his supposed Master Students. Let’s take a moment and talk about what Bill McDowell presents during his webinar, as performance and proof of his supposed Master Students.

Student A: Two consecutive years of trading and not a single losing day. Verifiable 6 figure trader that is currently winning at 93%. A profit factor of 20 to 1 over thousands of trades.

Student C: 1.5 year master trader that is left his old job and now earns over 6 figures.

Student D: 7 year master trader. No losing days in the past 4 years. Over 6 figures every year.

To the newbie reading this, admittedly this looks very exciting. During the roughly 90 minute sales presentation, Bill spends the majority of the time talking about each of these master traders that he has personally mentored and taken to the promised land of easy day trading profits. Of course, traders A-D is only small sampling of the supposed traders that are now earning over 6 figures trading Bill’s methods. On any typical webinar presentation, he rolls through a list of at least 9 supposed master traders earning big bucks day trading.

Seeking proof from Bill’s students

Bill assigns each of his master students different initials. There is DM and TP, and DR and KP, and LY, and you get the point. And Bill is more than willing to let you email these students and speak with them directly about their own personal trading results and overall experiences with Bill.

Over the past several months, I made great attempts at getting these supposed students to release account statements that verified year after year of amazing trading results…with no losing days, and no draw downs. Since everything is done via email or over chat, I had no idea whether any of these students were actual people, or just avatars created by Bill. Imaginary straw people, or paid shills that will say or do anything to coax a person into spending several thousand dollars. Lets be clear, I am not stating in fact that Bill is using imaginary people to verify the authenticity of his trading methods. However, I found it strange and disconcerting that Mr. McDowell will not show any verifiable trading results, nor will any of his supposed master students.

Perhaps these are in fact real students. Did Bill verify that these students are telling the truth? Did Bill ask that his students submit a redacted account statement that verifies the legitimacy of his claims of “NO losing days, and No draw downs”? It only seems appropriate that if Bill McDowell is going to parade these supposed amazing results of his students, that these results should be verifiable. Unfortunately, neither Bill nor his students are will to share even a single morsel of evidence.

Highly Dishonest

In my opinion, the willful inadmission of verifiable trading results is a highly dishonest marketing tactic. Some could make the argument that proclaiming amazing financial success and verifiable trading results, coupled with the inability or unwillingness to proffer documents of proof is the hallmark of a very dishonest person. Is Bill McDowell a dishonest person? Ultimately, the reader must make up his own mind. However, in my own personal opinion, there is absolutely no way that I would send Bill McDowell even one dollar….unless he can prove the either he, or his students are trading with some degree of success.

When Bill McDowell makes the bold proclamation this his students have no draw downs, and no losing days trading with this methods, then the burden of proof should be squarely placed upon his shoulders. I don’t know about you, but when something sounds too good to be true…well you know the rest.

Wrapping Things Up

In my opinion, and without calling Mr. Bill McDowell yet another fraudulent trading vendor, I hold out hope that Mr McDowell will contact me at his earliest convenience. I would be more than happy to write him a new review. But the new review needs to based upon facts and evidence. Not promises and hollow decrees.

I just realized that Rob B is a lost cause. Totally gone… I feel sad for you. So Rob has a link to a gentleman who took Bills course and admittedly didn’t put in any time on learning the method because Dr Bill wouldn’t show him his account statements. Yet he decided to invest the 3k without putting in at least 3 months of time to see if the method worked. So that makes Dr. Bill a scam? Next be assured that Dr. Bill would never come on here to promote or defend his methodology or room. Let’s be real… Read more »

Well, Jason I can not say the same. I wish for you and this con artist trading room to go out of business. You are just too funny. You stated there was not a single negative review about this room and then when I find several you get upset. You are truly unbelievable. And to address your ridiculous comments. I actually am a successful investor which includes day trading. And my goal is not to bad mouth anyone that is honest. But damn if I am going to let some con artist trading rooms tell people how after paying for… Read more »

Don’t worry Rob B once you give up on chasing the holy grail and focus on the process, then you’ll make it.

I truly believe that.

Good Luck… and for all those people out there, don’t read negative comments on how the whole day trading world is a scam or conspiracy, although there are bad seeds out there. Just find a mentor who will work with you and put in the hard work needed and it’ll come together with perseverance.

As usual your facts are wrong so I will straighten them out. First I did become a profitable day trader when I stopped listening to people like you and the other scam trading room operators promising fantasy. Second you are right you do not need negative comments you need to see proof. For Goodness sake do not take my word or the word of Jason who if you checked IP addresses is probably the trading room operator, but ask for proof. It just blows my mind Jason how you can post again and again with typical scam statements used by… Read more »

I never promised fortunes. I never promised no losing days. I never promised 80% profitable days. I never touched on my trading at all. I don’t need to. I don’t care to prove to you or anyone what I can do. You need to worry about you. Your income and your success. My posts never made promises. It merely touches on the point of how much work it will take to achieve success. I simply don’t care about anyone negative on this forum. You can call me names…you can call everyone on the forum a scam and every educator a… Read more »

Jason AKA Dr. Bill you just continue to promote your BS room that states, “If you are having more than one losing day a month, then you should not be trading, you should be learning my methods. In fact, my master trader students are currently experiencing no draw downs, and no losing days. With my methods, you can trade any market without draw downs and no losing days.” Yet now you deny that. Then you challenged me to show any negative reviews and I showed several. I have my magnifying glass looking for even a hint of proof yet you… Read more »

Man, Jason you are completely 99% fact free and clueless. The only thing you got right is I am sick and tired of scum bags such as yourself suckering people out of their hard earned money by promising fantasy. I am sorry, but Jason the day of your lies and scamming are over. The days where you make up fake user name and go to sites such as investo lie your ass off pedia.com are over. You have no decency what so ever and will rot in hell for being a scam artist. Trading rooms such as this need to… Read more »

Sounds like “Jason”‘s all but shown he’s a plant or fake user name now. Good job RobB. I don’t see a direct website to “Bill’s room”. Must be one of those email quiet deals where one forks up over 5k for some private “vetted and exclusive so it must be good” secret sauce webinars. Yup, these fake names often the vendors or their family/partners themselves can’t pull off their fakery commentary like they do on investi-scamma here. That’s what they all say, backtrack and hedge, takes a lot of time, or “don’t listen to me, try something else” hoping still… Read more »

Oops. I’d forgotten to remember the review. It’s either expensive mentoring deals, or going for monthly fees and indicators. In this case it’s the expensive mentoring so each prospective client/dupe is important for committed mentoring or “lifetime” deals, and not just keeping up a level of duped new members to a live trading room who quit after a month. I had Preston James and his affiliates keep calling me every six months to try to set me up with some other 8k to 10k mentoring deals. Be careful giving out a phone number as they will hand it over elsewhere… Read more »

Rob B, again your angry because you haven’t found anything that works. And you haven’t found the holy grail. There isn’t a holy grail my friend. You want something that doesn’t exist. I use to be angry too. I use to think there was a conspiracy out there. I just found out that work was the holy grail. Screen time and finding what fits your personality and putting the effort. Stop making excuses and blaming educators for your shortcomings. I feel very bad and sad for you. I don’t think you have the right frame of mind. I know I… Read more »

“So take some time and take me up on that. You will be disappointed to know that there isn’t one negative review out there saying that he is a scam.” Jason, I will take you up on that dare, just to further prove what a lying scum bag you are. I did the simplest of searches and found plenty of negative reviews by well respected community members. I could post many, but will just show 2 of them from different sites. From Big Mike. http://screencast.com/t/JCqekOuNJ From Trader Laboratory Re: Dr. William McDowell Quote: Has anyone taken his course or have… Read more »

Let me touch on something as well. I definitely do not recommend Bills room… Again I don’t recommend the room…or taking his course..but if your insisting on doing so then know its going to take 9 months to a year to grasp the ideas….

Wow, no proof shown; what a shocker. You will not or in reality cannot show any proof of profitable trading. Angry you bet. I am sick of trading room operators coming here and making fake posting as successful students. The one thing all these self-proclaimed student posters have in common is they can never show any proof of profitable trading. Contrary to your statement you are promoting this education program, telling people they just have to work hard and it will work. I say, then show proof of profitable trading using the methods taught. How hard is it to show… Read more »

Rob B who are you? Why would I ever show you my account statements? I don’t understand that. Why would I send anyone over the internet my account statements. Did I ever talk about money in my post? I don’t think so. You seem to be angry. I personally don’t suggest anyone joins Bills room because it is hard work and most traders don’t have that kind of time. Especially if they aren’t totally dedicated. I never talked money or no losing days or how profitable I am. That was not the intent of my post. I was merely letting… Read more »

I will have to clear something up on this review. First Dr. Bills Room is not a trading room. He teaches you how to trade and gives you the path to which to learn to trade. He doesn’t make calls. He doesn’t have you piggyback his trades. He teaches you the process and rigid rules in the basic course, and in the advanced course you develop your own trading method. I know I know, its something no one likes to hear. It takes a lot of work. It takes a lot of time as well. All unattractive to unsuccessful traders….but… Read more »

This is the complete BS I hear so much from Trading Rooms. It makes me sick. And I hear traders all the time that think the reason 95% fail is they did not put in the time. BS BS BS!!!!! The vast majority of day traders I know put in thousands of hours and years and can never trade the crap the Trading Room teaches profitable. You can spend a lifetime and not trade what 99.9% trading room teach profitable. It is all designed to sucker in underfunded traders into micro scalping. In my opinion sets them trying to trade… Read more »

Exactly, this is the same pattern over and over for the last ten years, or however long the online retail trading education industry has been infesting the web. Only rare places like this site and commentary will the unsaid truth be state. It’s always the same. The shuckster will make any excuse. There’s even kool-aid thinking about forum members even on places like BMT/futures.whatever who get sucked into believing the lie about being able to learn from a sim trading vendor. I beginning to think there is no vendor that charges monthly or lifetime fees for a room who can… Read more »

“if you are having more than one losing day a month, then you should not be trading, you should be learning my methods. In fact, my master trader students are currently experiencing no draw downs, and no losing days. With my methods, you can trade any market without draw downs and no losing days.” I have posted so many times do not be the fool and posters get angry with me saying how could I call people suckered in by con artist fools. In all those cases I was advising posters to ask for proof of profitable trading and do… Read more »

Really Bobby you think a day trading room showing no proof of profitable trading (in fact disappear when Emmet ask for actual proof) and claiming their master students have no losing days or draw downs is real. And then for proof shows some bogus spreadsheet with a 142 trades per day. What the heck are you drinking? Either you never day traded a day in your live and are completely ignorant to how day trading works or you’re a shill. My guess is the latter. And yes a business based on lies and scams run by a con artist who… Read more »

Well done. I have been wondering about this for a while now. I thought at least he would be showing real trades in some sort of room live of some kind, even in SIM, the way he talks, but apparently not? I think the psychology of wanting to believe a guy like this is a combination of him obviously being older, combined with his extremely bold claims (can’t be all BS RIGHT?), and his ability to talk and talk and talk and talk… Makes you want to believe is somewhat true… That is what pulls me in, though I have… Read more »

Bill has the trusty grandpa voice that you just want to believe so badly. Generally speaking, we have been conditioned into trusting our elders as they have “seen it all”. Another trusty grandpa type that got a poor review would be Woodies CCI Club. Damn old charlatan! The crusty old guy has been around since ticker tape stock quotes. Darn, just realized that I am a crusty old guy as well.

Here’s another “crusty old” voice for y’all. Everyday this senior puts out an after-the-fact video often for a winner of several ES points. http://www.ninjaindicators4u.com/ When asked about it he would just say it “was” the “best” trade of the day. What a shame these seniors are doing this in their “golden” years to supplement their SS. Emmett, you’re just older and wiser, making good use of your second chance and won’t end up like these crusty old charlatans.